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Nov 16, 2012
11/12
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on the fiscal cliff, we should not go over it. it would be both economically a bad thing, and demonstration that our government isn't working. we should put in place a framework in the lame-duck session that will specify that the cliff is postponed in some way, that the regular committees of congress in the next session should bring back a plan that would meet certain targets. and those targets, this is was a big deal for the grand bargain, those targets would be specified, sort of like reconciliation instructions, and the bill that came back would follow an expedited regular order. no going around the regular committees, but it would be subject to a majority vote and no filibuster and no amendments. and there should be a fallback position, which might at best be something like simpson-bowles or domenici-rivlin, but would in any case be a step toward solving the problem. not another cliff, but a partial. >> i'm michael at later, vice president for economic policy at the center for american progress. you know, i think we shouldn't
on the fiscal cliff, we should not go over it. it would be both economically a bad thing, and demonstration that our government isn't working. we should put in place a framework in the lame-duck session that will specify that the cliff is postponed in some way, that the regular committees of congress in the next session should bring back a plan that would meet certain targets. and those targets, this is was a big deal for the grand bargain, those targets would be specified, sort of like...
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Jan 23, 2013
01/13
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we were headed for the exact same result on the fiscal cliff. we were headed for the skabgd same result -- for the exact same result on the fiscal cliff. speaker boehner could not get his party to support protecting america from the fiscal cliff. so with literally minutes left to spare, and with the house republican conference ready, willing, and about to pitch the country off the fiscal cliff, speaker boehner did what? he ignored the hastert rule. he ignored the hastert rule, and he let the fiscal cliff bill come to the floor of the house without having the votes on our side first, to use the speaker's language. two-thirds of house republicans actually voted to roll america off the fiscal cliff. here's the vote count: republican yes votes on the fiscal cliff legislation were only 85. republican no votes on the fiscal cliff legislation were 151. he wasn't even close to making the hastert rule. that fiscal cliff bill passed the house 257-167 because the democrats came out and voted for it. 172-16. 172 democratic "yes" votes. 16 democratic "no" vo
we were headed for the exact same result on the fiscal cliff. we were headed for the skabgd same result -- for the exact same result on the fiscal cliff. speaker boehner could not get his party to support protecting america from the fiscal cliff. so with literally minutes left to spare, and with the house republican conference ready, willing, and about to pitch the country off the fiscal cliff, speaker boehner did what? he ignored the hastert rule. he ignored the hastert rule, and he let the...
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Nov 13, 2012
11/12
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slow, not a fiscal cliff. would you agree? >> right, because as these tax increases go into place, they don't going to place all at once. you don't have billions of dollars on day one or day to rg3. the cats are the same way, right? spending cuts are phased in over a period of time. this is something that would work its way up over the course of many months to be something that can be fairly devastating for the economy. in a matter of days or weeks, no, you would get that kind of an outcome spent bruce can you over just the a second since i mentioned chad report? all right, the center support which came out october, september? >> it came out -- >> in the microphone please. >> the first version came out almost six months ago. from reason i remember that is i finished the draft before going into achilles tendon surgery. i'm almost fully heal. we were concerned that people would be panicking and would strike a bad budget deal and wanted to emphasize that was not what, what everyone, what many, it was not a wily c
slow, not a fiscal cliff. would you agree? >> right, because as these tax increases go into place, they don't going to place all at once. you don't have billions of dollars on day one or day to rg3. the cats are the same way, right? spending cuts are phased in over a period of time. this is something that would work its way up over the course of many months to be something that can be fairly devastating for the economy. in a matter of days or weeks, no, you would get that kind of an...
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Oct 2, 2012
10/12
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problem number one is the fiscal cliff. problem number two would come early next year and would be put as late as march and then problem number three is the big problem. the big problem is the fiscal path is unsustainable and it is dangerous to america as the single biggest threat facing our economy. we shouldn't conflate those. we want to temporarily get past the fiscal cliff. we want to put the debt ceiling to clear the deck to deal with the big problem. the question that comes up all the time is to do that to kick the can down the road are they going to deal with the big problem. the answer to me has to be yes. the rating agency is one that has already downgraded the united states. it is inconceivable to me at least that if we want to say august or the full 2013 and in the honeymoon period of the new administration do not make any real progress on our long-term fiscal problems the rating agency won't say yeah, we are right even in the best political climate after an election everyone is trying to be nice they can't make
problem number one is the fiscal cliff. problem number two would come early next year and would be put as late as march and then problem number three is the big problem. the big problem is the fiscal path is unsustainable and it is dangerous to america as the single biggest threat facing our economy. we shouldn't conflate those. we want to temporarily get past the fiscal cliff. we want to put the debt ceiling to clear the deck to deal with the big problem. the question that comes up all the...
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Sep 10, 2012
09/12
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it has to do with the impact of the fiscal cliff. and in your case, he's talk about the sequestration. the automatic cuts because the automatic cuts, remember, there two sides to the budget. mandatory and dispretion their. i'm sorry if i'm talking past people. if this is old news, i apologize nor not pitching this high enough. but i find this stuff, and i have done it for a long time, useful to break it down to the building blocks and if you want me to go -- i can probably go in the deep as weeds you'd like. hopefully -- let me see heads nodding is this a level that is useful to people? okay, good. we are talking about the appropriation side of the budget. the gentleman's question. let me answer that first. the agency's by the automatic cuts are supposed to be made across the board or portion nately across the agency. i read something on the defense side. the way it's set up according to scott lily. he's latest setup is proportional if you're a shipbuilder and building ten ships for the navy and have 0 to have a 10 fortunate reductio
it has to do with the impact of the fiscal cliff. and in your case, he's talk about the sequestration. the automatic cuts because the automatic cuts, remember, there two sides to the budget. mandatory and dispretion their. i'm sorry if i'm talking past people. if this is old news, i apologize nor not pitching this high enough. but i find this stuff, and i have done it for a long time, useful to break it down to the building blocks and if you want me to go -- i can probably go in the deep as...
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Oct 16, 2012
10/12
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that was its own, i guess many fiscal cliff. that when we first came up against that and we dawdled. that's money we've already spent. there's no option if you're a conservative or very liberal, the debt ceiling has to be able to accommodate the spinning we've already, you know, encourage. so to scare creditors the way we did was outrageous, and hopefully we can avoid that any future. but all we need is a credible path. i mean, the trustees on the medicare system, i mean for there's nobody really failing their credibility. they are people have looked at this thing over the years and they're saying the current system is unsustainable. so it has to be changed. again, whether you have one type of you or another type of you, i think i've i think there could be no dispute, it has to change. >> you are raising the core issue here, which is the political will, we are in to a fresh round of warnings from credit rating agencies, that the united states will face another downgrade if they don't show a lease the political will to do somethi
that was its own, i guess many fiscal cliff. that when we first came up against that and we dawdled. that's money we've already spent. there's no option if you're a conservative or very liberal, the debt ceiling has to be able to accommodate the spinning we've already, you know, encourage. so to scare creditors the way we did was outrageous, and hopefully we can avoid that any future. but all we need is a credible path. i mean, the trustees on the medicare system, i mean for there's nobody...
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Dec 28, 2012
12/12
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that's where i get to the fiscal cliff issue. without some help in the form of funding for community colleges and in the form of job training and the form of pell grants, these hard-working deserving young people will be left out and they will be out of luck. but america will be out of luck as well. we would be out of luck because the next bill gates or mark would be stuck working in a talk a nobel because there is no way for him to move up and move out. or to put it another way, someone has to make money available to these young people. something has to give so that these people who are striving have a chance. it's what they need. it's what they all need. here are the options. apparently we can as republicans appear willing to do drop the ball on the middle class. 2200 hours out of the paycheck of hard-working americans. people who are already struggling to pay their bills. or we could ask for those who can afford to pay just little bit more. i think you know where i come down on this side of the issue. let's not dropped the bal
that's where i get to the fiscal cliff issue. without some help in the form of funding for community colleges and in the form of job training and the form of pell grants, these hard-working deserving young people will be left out and they will be out of luck. but america will be out of luck as well. we would be out of luck because the next bill gates or mark would be stuck working in a talk a nobel because there is no way for him to move up and move out. or to put it another way, someone has to...
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Dec 11, 2012
12/12
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- gets to the fiscal cliff. here's what we know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. on top of that, the president wants to raise taxes on many small business owners. now, even if we did exactly what the president wants, we would see red ink as far as the eye can see. that's not fixing our problem either. it's making it worse and it's hurting our economy. i think the members know i'm an optimist. i'm hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together toward the best possible solution and that means cutting spending. if the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering whe minority leader, ms. pelosi, for five minutes
- gets to the fiscal cliff. here's what we know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. on top of that, the president wants to raise taxes on many small business owners. now, even if we did exactly what the president wants, we would see red ink as far as the eye can see. that's not fixing our problem either. it's making it worse and it's hurting our...
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Nov 29, 2012
11/12
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the fiscal cliff is getting closer. then on the threat of panic, force through some deal to maintain the status quo for taxes, more spending, more debt. it would be presented to the senate in a way that if it's not adopted immediately, the country will be in great fiscal danger. this process. -- this process needs to be taken out of the shadows. we need public debate, and people would know the facts that are now being hidden from us and hidden from members of congress. we don't know what's going on. the latest article in "politico" today said the deal -- the so-called deal has been negotiated by the speaker of the house and the president, not even harry reid is in the meetings, apparently. certainly not the members of the united states national or the members of the house of representatives -- united states senate or the members of the house of representatives. and if we had a public debate, people would discover that according to the c.b.o. mandatory spending is going to increase -- increase nearly 90% over the next te
the fiscal cliff is getting closer. then on the threat of panic, force through some deal to maintain the status quo for taxes, more spending, more debt. it would be presented to the senate in a way that if it's not adopted immediately, the country will be in great fiscal danger. this process. -- this process needs to be taken out of the shadows. we need public debate, and people would know the facts that are now being hidden from us and hidden from members of congress. we don't know what's...
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Nov 13, 2012
11/12
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there is a fiscal cliff. why are all these things, you know, hitting at once? part of the them as we know are the some of the temporary stimulus measures in the early obama administration and also in 2011 that were temporary tax cuts that were designed to give the economy a boost by their nature that are temporary and should be revisited. we may conclude the economy still needs that boost and that is totally appropriate. some of it is the alternative minimum tax that is basically always broken and always needs some changes to it. the sequesters on domestic and defense spending are products of the blackmail episode of 2011 when congressional leaders refused to enter, refused to do as is routinely done and extend the debt limit and created this sequester as a way to force some action they had no intention of doing themselves. but the biggest part of it comes from the bush tax cuts and the reason the bush tax cuts expire is an interesting story. in 2001 and 2003, 2001 we had a budget surplus and both democrats a
there is a fiscal cliff. why are all these things, you know, hitting at once? part of the them as we know are the some of the temporary stimulus measures in the early obama administration and also in 2011 that were temporary tax cuts that were designed to give the economy a boost by their nature that are temporary and should be revisited. we may conclude the economy still needs that boost and that is totally appropriate. some of it is the alternative minimum tax that is basically always broken...
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Jul 17, 2012
07/12
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they know we face the fiscal cliff. they know we have to deal with it. >> we know it's going to be a challenge. everies a pebt of tax reform has strong special intros and lobbyist backing it. that's why it's absolutely necessary to galvanize strong uniform public opinion with every area in the area. we will stick around and if everybody wants to talk to us. thank you for coming. [applause]
they know we face the fiscal cliff. they know we have to deal with it. >> we know it's going to be a challenge. everies a pebt of tax reform has strong special intros and lobbyist backing it. that's why it's absolutely necessary to galvanize strong uniform public opinion with every area in the area. we will stick around and if everybody wants to talk to us. thank you for coming. [applause]
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Dec 13, 2012
12/12
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we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to pay down the debt. earlier this year his budget director came before the committee and would not disavow the claim the president has a plan to pay down the debt. and i would just say that that is one of the greatest financial misrepresentations ever, that the president of the united states would tell the american people don't worry, elect me, i've got a plan to pay down the debt. when he has no such plan. nothing close to it. under the score of the congressional budget office, over the next ten years we will add almost $9 trillion -
we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to...
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Nov 14, 2012
11/12
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we face a fiscal cliff. there are some in this chamber who said we need to go off of it, we'll pay the price and finally sit down and do what's right. i would with all due respect say that's pretty stupid. we've gone off a cliff one before in 1998 and we're still reeling from it today because we didn't deal fast enough with the decisions we had to make as a congress to address the problems of the people that elected us to come here and manage their afaimpletz affairs. i would submit to you it's about time the american government did what every american family has had to do in the last five years -- sit around our kitchen table like they've sat around theirs, talk about our income like they've talked about theirs, cut their budgets and spending where they've had to cut because they've had to tighten their belt. don't you think the government ought to at least ask of itself what it's required every american family to do? so instead of talking about what we can't find agreement on, why don't we start talking ab
we face a fiscal cliff. there are some in this chamber who said we need to go off of it, we'll pay the price and finally sit down and do what's right. i would with all due respect say that's pretty stupid. we've gone off a cliff one before in 1998 and we're still reeling from it today because we didn't deal fast enough with the decisions we had to make as a congress to address the problems of the people that elected us to come here and manage their afaimpletz affairs. i would submit to you it's...
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Dec 4, 2012
12/12
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the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of all different sorts and what do you make a particular loophole or not depends on where you said i think. there are lots of loopholes that are deductions are deductions are the ones that most people are most familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is a deduction for state and local taxes is very important. the deduction for charitable contributions is real important. there's all kinds of other breaks that exist in a tax code that people are less familiar with. there were some of those people aren't aware that all that are very big and important. for in
the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of...
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Dec 6, 2012
12/12
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that being said, before we talk about fiscal cliff, we'll get because the last fiscal cliff. we had another fiscal cliff types of new with the debt limit to create a center that led to this ridiculous idea that i voted against that let's put a bunch of bad things to happen at one time because that will force washington to do something. surprise, it didn't work. here we are again. so we have to issues. number one is an immediate term to avoid doing damage. that's to avoid doing harm. so we need to look for a way to accomplish that in the short term. then we have had a conversation about getting the fiscal house in order it's just fundamentally true. we spend a trillion dollars a year more than we take in to assist attack. i approached this issue that the only way we can get that in order is to rapid economic growth. there's no taxes to raise. what the presidential post does not raise enough revenue, but it will make a dent on job creation, particularly middle-class job creation. so that's why i oppose this blanket instead i think we should do real tax reform. if there are loop
that being said, before we talk about fiscal cliff, we'll get because the last fiscal cliff. we had another fiscal cliff types of new with the debt limit to create a center that led to this ridiculous idea that i voted against that let's put a bunch of bad things to happen at one time because that will force washington to do something. surprise, it didn't work. here we are again. so we have to issues. number one is an immediate term to avoid doing damage. that's to avoid doing harm. so we need...
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Dec 4, 2012
12/12
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that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates could go down next year as far as tax reform. you talked with fiscal rates need to go up. what he campaigned on was the 39.6 at the end of the year. is that the case? >> so, let me say this, the president has been absolutely clear, as have i, that rates have to go up on top earners, on millionaires and billionaires, those making over $250,000. the president made that clear all yearlong and clear in the post-election period being engaged in conversations with congress about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to
that was a good solid meeting discussing the fiscal cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates...
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Jul 25, 2012
07/12
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as the fiscal cliff draws near and near, the job growth remains stagnant. congress should focus on long-term economic solution that is boost our recovery and provide businesses the certainty that they need to create jobs. thank you, mr. president, and i yield the floor and suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. mcconnell: are we in a quorum call? the presiding officer: we are. mr. mcconnell: i ask unanimous consent that further proceedings under the quorum call be dispensed with. the presiding officer: without objection. mr. mcconnell: for nearly four years now, democratic leaders in washington have claimed to want what's best for the economy but done just about everything you can think of from a policy perspective to actually undermine the economy, whether it is overwhelming businesses with red tape, burdening them with costly new health care laws, or punting on major economic decisions until after the election. democrats have done everything you'd expect to more centralize power in washington
as the fiscal cliff draws near and near, the job growth remains stagnant. congress should focus on long-term economic solution that is boost our recovery and provide businesses the certainty that they need to create jobs. thank you, mr. president, and i yield the floor and suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. mcconnell: are we in a quorum call? the presiding officer: we are. mr. mcconnell: i ask unanimous consent that further...
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137
Dec 6, 2012
12/12
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right now we're talking about the fiscal cliff. well, the fiscal cliff has many components. it may be broken into many different bills that come before this body. would end to get rid of the motion to proceed so we can get those bills to the floor so we can debate them. we need to make sure that if a group say, let's block in bill from the final vote, that think express their views accountably before the public. it's the least that should happen. so the senate is headed out for the weekend. we'll be back next week, and i ask for the american public to weigh in, to think about the fact that this hidden process is hurting our ability to address the biggest issues in america. i ask my colleagues to wrestle with that. and, mr. president, it is my hope that folks will hold those conversations with the public back home. i have done so in every county of my state, through my town halls. i hold one in every county every year. i have raised this issue of whether or not when folks vote for debate they should be required to debate, they should be required to make their case, not to kil
right now we're talking about the fiscal cliff. well, the fiscal cliff has many components. it may be broken into many different bills that come before this body. would end to get rid of the motion to proceed so we can get those bills to the floor so we can debate them. we need to make sure that if a group say, let's block in bill from the final vote, that think express their views accountably before the public. it's the least that should happen. so the senate is headed out for the weekend....
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Nov 20, 2012
11/12
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this so we have to avoid the fiscal cliff and build a bridge to address the fiscal abyss. >> what is your level of confidence that first things first the fiscal cliff can be avoided? >> i am cautiously optimistic. the first week we heard some good language from both sides. last week was rather disappointing but i think that both sides really do want to avoid it and what we need to do is recognize you can't do the so-called grand bargain in the lame-duck session but we ought to do something to demonstrate that we are serious about dealing with these structural problems, so i think they need to separate the week between what should be extended and what shouldn't. the sticking point is to be what happens to the taxes on wealthy. there are ways to increase the tax rate of the wealthy without increasing marginal tax rates and hopefully they will come to an agreement on that pending a comprehensive tax reform. >> phone numbers on the bottom of the screen for the former u.s. comptroller general talking here about the fiscal cliff and the national debt we have separate from lines for democra
this so we have to avoid the fiscal cliff and build a bridge to address the fiscal abyss. >> what is your level of confidence that first things first the fiscal cliff can be avoided? >> i am cautiously optimistic. the first week we heard some good language from both sides. last week was rather disappointing but i think that both sides really do want to avoid it and what we need to do is recognize you can't do the so-called grand bargain in the lame-duck session but we ought to do...
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Nov 14, 2012
11/12
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what the fiscal, fiscal cliff will require some sort of action. it won't solve the problem but as you heard last night the question is how does it set up a potential solution but and if you think that, frankly to the people in this room and others keep really pushing for court reform, rb of the 1986 base broadening of the lore of the race, some effort to restart to get at entitlement and some seriously, and i personally, i can't speak for him, i think you would find republican flexible on this if they feel it's not just medicare taking of money way from the producers of the doc fix which always gets the backing. if it's a series of step with retirement ages, and remember, this is where none of you really understand how washington talks about cuts but nobody's talking about a cat. they're talking about the reduced rate of growth. is not the way you cut. so with republicans get out got attacked by people is to say all, you're going to update cuts but all they want is a slower rate of increase. but if it's done in a way that doesn't have disciplines
what the fiscal, fiscal cliff will require some sort of action. it won't solve the problem but as you heard last night the question is how does it set up a potential solution but and if you think that, frankly to the people in this room and others keep really pushing for court reform, rb of the 1986 base broadening of the lore of the race, some effort to restart to get at entitlement and some seriously, and i personally, i can't speak for him, i think you would find republican flexible on this...
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Dec 13, 2012
12/12
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the nation is consumed by the fiscal cliff. fromual i can tell, the -- from all i can tell, the presidential limousine is moving very rapidly toward the fiscal cliff with the president's foot often the accelerator. i'm still hopeful that we'll get a budget agreement that will help us get the economy moving again. but at a time like this, of course, what we all need to be doing is thinking about saving every possible penny to fix the debt. this is a government in washington, d.c., that is borrowing 42 or 43 cents out of every dollar we spend, which is why i come to the floor today to point out a proposal that's been made to fleece the taxpayers of an additional $15 billion -- $50 billion, madam president, over the next six years. this is a proposal that is as brazen as a midday bank robbery on main street. it's a proposal by the wind developers of america to say that the taxpayers, please give us $50 billion or so more over the next six years to phase out the federal taxpayer subsidy for wind power. now, madam president, why is
the nation is consumed by the fiscal cliff. fromual i can tell, the -- from all i can tell, the presidential limousine is moving very rapidly toward the fiscal cliff with the president's foot often the accelerator. i'm still hopeful that we'll get a budget agreement that will help us get the economy moving again. but at a time like this, of course, what we all need to be doing is thinking about saving every possible penny to fix the debt. this is a government in washington, d.c., that is...
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Dec 7, 2012
12/12
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if no agreement is reached on the fiscal cliff. this twenty five minute event took police at the veteran affair offices in washington, d.c. >>> thank you, tommy. first, let me thank secretary panetta for the unwavering support for the here at the va and the men and women who wear and have worn the uniform of the nation. our close partnership with the immediating we had -- meeting we had today on their behalf has never been more important as it is today. as we enter the holiday season i want to thank the men and whoim spend their holiday away from the families defending the nation. we're grateful for their the service and sacrifice. as we have discussed very little what we do here at va -- most of what we work on originated in dodd and that's why achieving our priorities at va requires the close and collaborative working relationship. we have more to do but with president obama's strong support and guidance we have brought the two departments closer together than ever before. we have underwritten joint vad. we began harmonizing our
if no agreement is reached on the fiscal cliff. this twenty five minute event took police at the veteran affair offices in washington, d.c. >>> thank you, tommy. first, let me thank secretary panetta for the unwavering support for the here at the va and the men and women who wear and have worn the uniform of the nation. our close partnership with the immediating we had -- meeting we had today on their behalf has never been more important as it is today. as we enter the holiday season i...
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Nov 28, 2012
11/12
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well, i am very concerned about what i call the fiscal cliff. yesterday politicoy reported that some -- "politico" reported that some democrats want to start calling it "the fiscal slope." it time to start looking for solutions. president obama has said repeatedly that it wants to take a balanced approach, and this balanced approach should govern how we deal with other issues as well, on how democrats work with republicans in the senate. given the challenges we face, it is unfortunate that some of the president's closest allies here in the senate are pushing the exact opposite approach. the majority leader and some members of his party have now proposed that what wo would be n unprecedented power grab that would forever change this body's rules. it would make it harder to find common ground. i am speaking about the democratic plan to change the rules of the senate to drays drastically limit the use of the filibuster. the majority leader would take i believe a dangerous step toward abolishing the rights of the political minority and restricting t
well, i am very concerned about what i call the fiscal cliff. yesterday politicoy reported that some -- "politico" reported that some democrats want to start calling it "the fiscal slope." it time to start looking for solutions. president obama has said repeatedly that it wants to take a balanced approach, and this balanced approach should govern how we deal with other issues as well, on how democrats work with republicans in the senate. given the challenges we face, it is...
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Sep 12, 2012
09/12
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there is the real fiscal cliff. what we have done is we have taken the focus and said here is short term again and the real problems are long term. manifestations come in the short term and will be much greater two years from now if we don't fix it. if in fact we don't send a signal that we are going to take care of the long term problems we can fix the fiscal cliff but it is not going to matter a year from now because the bond vigilante's will have driven down the price of bonds and interest rates will be around 6%. it is a perfect political strategy to take our eye off of what the real ball is. social security is not hard to fix. medicare is very difficult to fix. but it can be fixed. the health-care decision is a whole other discussion. you could have five ripon societies and not cover it. so i think there is a lot of emphasis on it but i want to remind you that is short-term thinking. that is all 17 or 18 months or less thinking. we need to be thinking three four five years and fix those. the short term will tak
there is the real fiscal cliff. what we have done is we have taken the focus and said here is short term again and the real problems are long term. manifestations come in the short term and will be much greater two years from now if we don't fix it. if in fact we don't send a signal that we are going to take care of the long term problems we can fix the fiscal cliff but it is not going to matter a year from now because the bond vigilante's will have driven down the price of bonds and interest...
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Aug 23, 2012
08/12
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i will be talking about the fiscal cliff. i did this speech a while ago, about a month or so ago, and that had a different view. i had a view at that time that we did not want to be in that blue '58 thunderbird. now i think our leaders are trying to get a seat in the car. i will explain that to you in a minute. in the past month, things have changed here. i want to get to that. the way i look at our current budget situation, we seem to be following movie titles quite a bit. we have "the perfect storm." the fiscal cliff. what i fear is that we are going into the year of living dangerously. perhaps some of the statistics we have seen recently on growth and unemployment and on investment indicate we may already be in that because of the uncertainties because of the fiscal situation we have. what i'm going to talk about today is our fiscal future. i will try to talk about it from three different perspectives. the near-term, the perfect storm or the fiscal cliff, and what we are facing over the next couple of months. the median-te
i will be talking about the fiscal cliff. i did this speech a while ago, about a month or so ago, and that had a different view. i had a view at that time that we did not want to be in that blue '58 thunderbird. now i think our leaders are trying to get a seat in the car. i will explain that to you in a minute. in the past month, things have changed here. i want to get to that. the way i look at our current budget situation, we seem to be following movie titles quite a bit. we have "the...
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Dec 14, 2012
12/12
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fiscal cliff. i don't dispute that but back to 1993 when the taxes were first put in, they will cause a recession. they did not. the economy is improving on its own right now. and getting so much stronger. the impact of the fiscal cliff while not something to be something encouraged me not be as bad as many have thought it certainly isn't worth taking bad policies that have much longer-range implications. the debt ceiling, the second issue, another kind of artificial state has been involved decades and congress periodically as a partisan debate over whether to extend it so there really is no option. you need to extend or default and shouldn't be an option and it's something that shouldn't be avoided at all costs. if we put this critical date in there so that we can have the debate, have a vote and then extend the debt ceiling as we know we have to. then finally, we have the issue of the debt and deficit and the long run. the issues of real importance. because number one, we don't account for our ex
fiscal cliff. i don't dispute that but back to 1993 when the taxes were first put in, they will cause a recession. they did not. the economy is improving on its own right now. and getting so much stronger. the impact of the fiscal cliff while not something to be something encouraged me not be as bad as many have thought it certainly isn't worth taking bad policies that have much longer-range implications. the debt ceiling, the second issue, another kind of artificial state has been involved...
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Jun 6, 2012
06/12
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job creators are concerned about the pending fiscal cliff. if congress does not act before the election to deal with these issues, the economy will suffer from this uncertainty in the coming months. the legislation i've introduced along with senator sessions requires the administration to share with congress and with the american people their plan for exactly how the s. con. res. -- sequesteration will be cared out. it is straightforward legislation and is something i hope my colleagues on both sides of the aisle will work to ensure that this plan is shared with the congress and with the american people. madam president, we have, as everybody knows, a big pileup occurring at the end of the year, the sequesteration with the tax cuts that will occur, capital gains rates, dividend rates, the death tax, all these things pile up, the debt limit increase, all these things happen at a time that will create incredible amounts of uncertainty in our economy. the best thing that we can do for the american people, for our job creators, for investors, for
job creators are concerned about the pending fiscal cliff. if congress does not act before the election to deal with these issues, the economy will suffer from this uncertainty in the coming months. the legislation i've introduced along with senator sessions requires the administration to share with congress and with the american people their plan for exactly how the s. con. res. -- sequesteration will be cared out. it is straightforward legislation and is something i hope my colleagues on both...
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Dec 12, 2012
12/12
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cliff, the so-called fiscal cliff. we understand that this needs to be avoided. going off the fiscal cliff could cause a major damage to our economy. if we take no action by january 1, as i'm sure most people are now aware, tax rates will go back for all taxpayers to the pre-bush tax rates. the alternative minimum tax that shields tens of millions of americans from paying extra income taxes will expire and millions of americans will be subject to extra taxes. the unemployment insurance program will come, the extended benefit program will come to a halt, the payroll tax holiday will end and individuals' take-home pay will be reduced. we have a serious problem on medicare reimbursement to our physicians. they would be subjected to a significant cut, close to 30% which would have an impact on seniors and our disabled population having access to physician care. and we would go through what's known as sequestration which is across-the-board cuts to almost all federal programs ranging from 8% to about 10% across the board cu
cliff, the so-called fiscal cliff. we understand that this needs to be avoided. going off the fiscal cliff could cause a major damage to our economy. if we take no action by january 1, as i'm sure most people are now aware, tax rates will go back for all taxpayers to the pre-bush tax rates. the alternative minimum tax that shields tens of millions of americans from paying extra income taxes will expire and millions of americans will be subject to extra taxes. the unemployment insurance program...
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Dec 5, 2012
12/12
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there are several parts to this fiscal cliff. the biggest one is that the bush-era tax cuts are expiring on 100% of the people, and if they expire, it means people will have to pay more in taxes at a time when we don't want them to have to struggle. we want them to have disposable income because it's good for their families and it's good for the economy, it's good for business, it's good for economic growth. the bush-era tax cuts are expiring on december 31. why don't we find the common ground, get rid of that issue, get those tax cuts to the 98% of the middle class that need them and fight about the millionaires and the billionaires later? they are okay. they are just fine. and if we were to do that, that simple step -- and that means passing our bill that we passed on july 25. we did it. it's done. we don't have to worry about -- we did our job over here. we got the votes. pick it up and pass it over there. now, i understand that democratic leader pelosi has done something very interesting. she has taken this bill, the same exa
there are several parts to this fiscal cliff. the biggest one is that the bush-era tax cuts are expiring on 100% of the people, and if they expire, it means people will have to pay more in taxes at a time when we don't want them to have to struggle. we want them to have disposable income because it's good for their families and it's good for the economy, it's good for business, it's good for economic growth. the bush-era tax cuts are expiring on december 31. why don't we find the common ground,...
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Dec 13, 2012
12/12
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cliff, the fiscal crisis. a good example is allen nipper. he is a timber landowner who operates a tree farm in magnolia, arkansas. he wrote to me about what he rightfully calls multiple taxation. he says we know our lands provide clean water and wildlife habitats that benefit society in general without us expecting a handout or a payment for providing those services. he goes on to say but then at my death, the government wants to take up to 55% of the value after i have invested my efforts into providing those benefits. that's not right nor is it fair. i agree with al. part of the american dream is creating an inheritance that we can pass on to our future generations. our farmers and small businesses deserve to pass along their investments to their heirs without having to worry about the tax. that's why i introduced legislation to actually eliminate the death tax. while this idea won't be included in the final tax bill, these hard-working families can't afford congress to allow the death tax to return to 55%.
cliff, the fiscal crisis. a good example is allen nipper. he is a timber landowner who operates a tree farm in magnolia, arkansas. he wrote to me about what he rightfully calls multiple taxation. he says we know our lands provide clean water and wildlife habitats that benefit society in general without us expecting a handout or a payment for providing those services. he goes on to say but then at my death, the government wants to take up to 55% of the value after i have invested my efforts into...
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Nov 28, 2012
11/12
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our disconnected as you are trying to find a way to an agreement on the so-called fiscal cliff? how were these two things connected? >> went at it this way. how is the leader of the majority of feel good about the election are kept my majority in the senate. the president was reelected. the first thing on my agenda with the how can i reach out to the minority? we've got big issues that cannot be solved on a bipartisan basis. how can i be building bipartisan confidence going into these huge issues that we have before us. the last thing on my list would've been destroyed bomb into the senate, have it blow up and have everybody mad as heck. i am just perplexed about the judgment on display here, blowing up the senate at a time of the election is behind us. we won't have another one for two years. let's bring everybody together and try to solve the problems. but that's a decision apparently he's made for the moment and will have to live with the consequences. of course, we want to get an outcome and we know the only way we can solve our long-term debt and deficit problem is to fix a
our disconnected as you are trying to find a way to an agreement on the so-called fiscal cliff? how were these two things connected? >> went at it this way. how is the leader of the majority of feel good about the election are kept my majority in the senate. the president was reelected. the first thing on my agenda with the how can i reach out to the minority? we've got big issues that cannot be solved on a bipartisan basis. how can i be building bipartisan confidence going into these...
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Nov 27, 2012
11/12
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as we approach the fiscal cliff, democrats are ready to make those tough choices. i hope my republican freandzs, theespecially those who claim ty put mo claim before their pledge can say the same. mr. mcconnell: mr. president? the presiding officer: the republican leader. mr. mcconnell: yesterday i came to the floor to discuss what's known as the fiscal cliff, a mix of automatic tax hikes and defense cuts that are set to hit at the end of the year jeopardizing our security as well as our economy. my message was pretty simple. a solution is possible. republicans have been reasonable and president needs to lead. he is the only one who can get us to a solution. if that's what he wants, we'll succeed. so it was with some concern that i read this morning that the president plans to hit the road next week to drum up support for his own personal approach to the short- and long-term fiscal challenges we face. in other words, rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail, presumably with the same old ta
as we approach the fiscal cliff, democrats are ready to make those tough choices. i hope my republican freandzs, theespecially those who claim ty put mo claim before their pledge can say the same. mr. mcconnell: mr. president? the presiding officer: the republican leader. mr. mcconnell: yesterday i came to the floor to discuss what's known as the fiscal cliff, a mix of automatic tax hikes and defense cuts that are set to hit at the end of the year jeopardizing our security as well as our...
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Nov 14, 2012
11/12
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>> well, because we are getting close to the fiscal cliff. people who think about this -- we have two big problems. one is a sluggish economy and the other is the national debt. the truth is the best thing we can do for the economy is to solve that problem. because that will create the confidence and certainty about the future that will allow people in business to begin to spend and invest over his enormous sums of money because you are not sure about what the context is and which were operating. you know, i think mark and i have talked about this. we are one big fiscal bargain away from stimulating our economy in a way that is going to continue to have economic leaders of the world for years to come. if you heard it on tv or radio today, not us word the international agency -- in 2020, the u.s. is going to go by saudi arabia as the number one distributor of oil in the world. this doesn't even count for our gas reserves. we are still the most -- for all of our troubles, we have the most spent economically and the dragon's eyes. it is the gove
>> well, because we are getting close to the fiscal cliff. people who think about this -- we have two big problems. one is a sluggish economy and the other is the national debt. the truth is the best thing we can do for the economy is to solve that problem. because that will create the confidence and certainty about the future that will allow people in business to begin to spend and invest over his enormous sums of money because you are not sure about what the context is and which were...
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Nov 29, 2012
11/12
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as the fiscal cliff approaches, we should be work together across the aisle to address issues like we are today with the defense authorization bill but also other critical issues, including tax issues and spending issues and that's what i wanted to address today. we -- we have a lot of challenges and instead of pulling together, we seem to be pulling apart. and i'm specifically referring to some of the suggestions by some in the majority that we consider controversial and partisan rule changes that would marginalize minority members and doing it in a way that breaks the current rules to change the rules. and what i mean by that is, it takes 67 votes to change a rule here in the united states sena senate. that's a rule, by the way, that dates back to 1917. and the reason that's in place is because obviously, you know, folks wanted to force the majority and the minority to work together to make those rule changes. you don't get a two-thirds vote without that. and i think that's important, that the basic rules are ones that are agreed on. we tend to change parties a lot around here. in f
as the fiscal cliff approaches, we should be work together across the aisle to address issues like we are today with the defense authorization bill but also other critical issues, including tax issues and spending issues and that's what i wanted to address today. we -- we have a lot of challenges and instead of pulling together, we seem to be pulling apart. and i'm specifically referring to some of the suggestions by some in the majority that we consider controversial and partisan rule changes...
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Dec 5, 2012
12/12
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unlike the rest of the fiscal cliff, which affects tax rates that will play next year, the patch applies to the return that we will all have to file early next year. so if there is not congressional action here, there is an abrupt increase in tax on the 2012 taxable year in 20 of 11 approximately 4 million people paid the amt. if there's not a patch, 30 million people will be required to pay the amt in 2012 for the current taxable year and they will pay an additional $90 billion in tax. very few of them have any idea. >> host: is the irs prepared? >> guest: the irs took a fairly unusual -- but i think correct position. they took the position that congress will do the responsible name. so they did their tax program for next year, for the 2012 return, assuming congress would enact the patch before the end. i think that was a reasonable thing to do because i believe they will do that. however, it does mean if there is not a patch, the tax return idling season next year would be quite chaotic. >> host: john buckley is our guest and we talk about the alternative minimum tax as part of the ove
unlike the rest of the fiscal cliff, which affects tax rates that will play next year, the patch applies to the return that we will all have to file early next year. so if there is not congressional action here, there is an abrupt increase in tax on the 2012 taxable year in 20 of 11 approximately 4 million people paid the amt. if there's not a patch, 30 million people will be required to pay the amt in 2012 for the current taxable year and they will pay an additional $90 billion in tax. very...
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Oct 12, 2012
10/12
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i know you want to get beyond the fiscal cliff, and many of us would like to get beyond the fiscal cliff. >> somehow i have a feeling we're not getting beyond the fiscal cliff with your question. [laughter] >> my question is about the payroll tax holiday. you said it's the wrong time to end it, it's important to get the debt under control, but i'm trying to understand how important it is to get it under control now. i mean, if we punt on the payroll tax, do we have to be paying for it? worry about the bond individual -- vigilantes? how do you address that issue? >> i think i was clear in saying that it would be advantageous from the point of view of reducing risk to put in place today a program that would cause the debt path and income path not to be divergent causing one to be able to look ahead and see a stable debt to income ratio. that does not require changing the level of debt tea. indeed, to the extent that one's spurred growth today and put in place measures that paid for it subsequently, the result on both sides would actually be because of the rising incomes today and the reduc
i know you want to get beyond the fiscal cliff, and many of us would like to get beyond the fiscal cliff. >> somehow i have a feeling we're not getting beyond the fiscal cliff with your question. [laughter] >> my question is about the payroll tax holiday. you said it's the wrong time to end it, it's important to get the debt under control, but i'm trying to understand how important it is to get it under control now. i mean, if we punt on the payroll tax, do we have to be paying for...
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Sep 20, 2012
09/12
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the so-called fiscal cliff is real. we're looking at over $5 trillion of economic swing by the end of this year, december 31, coming up to january 1. one part of that is the sequestration. i think we all remember the sequestration. that is the penalty we put on ourselves. if the supercommittee did not do their jobs. the supercommittee wasn't that super, didn't work out the way we thought it would. it means what we have to do is take painful cuts, because we said if we make the penalty strong enough and great enough, we'll definitely come to the table and fix the financial problems. but we didn't do it. that was a year ago. we could have been working to fix all of that between that. here we come down to the last minute and we're asking for six more months. you know, the kind of meat ax spending cuts, when i talk about that, i never did put budgets together which were across-the-board cuts. if you had to cut basically, look at it. government can do two things with your money. they can spend your money or invest your money
the so-called fiscal cliff is real. we're looking at over $5 trillion of economic swing by the end of this year, december 31, coming up to january 1. one part of that is the sequestration. i think we all remember the sequestration. that is the penalty we put on ourselves. if the supercommittee did not do their jobs. the supercommittee wasn't that super, didn't work out the way we thought it would. it means what we have to do is take painful cuts, because we said if we make the penalty strong...
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Nov 9, 2012
11/12
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we are about to go off the fiscal cliff. would you help me build support for this deal that will have the support of the business community and a supermajority in the senate in a bipartisan way. that would be an interesting phenomenon. at the same time we had an announcement today by simpson and olds, bolstered by something like $35 billion in business support for going aggressively on the road to promote this kind of plan and my guess is that one of the first calls obama will make it to his old friend tom coburn to come in and imagine the power in december if it happens of a meeting at the white house this time coburn on one sideside, simpson-bowles behind you, probably not mitt romney but possibly and jp diamond and jeff immelt and a few other business leaders with you saying we heard the american people's plea for us to finally get together and solve these problems, solve what we did with hurricane sandy. we can do this with the hurricane and the debt in the fiscal cliff coming if only we can get it up to a vote in the ho
we are about to go off the fiscal cliff. would you help me build support for this deal that will have the support of the business community and a supermajority in the senate in a bipartisan way. that would be an interesting phenomenon. at the same time we had an announcement today by simpson and olds, bolstered by something like $35 billion in business support for going aggressively on the road to promote this kind of plan and my guess is that one of the first calls obama will make it to his...
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Jun 27, 2012
06/12
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the threat from the fiscal cliff. the fiscal cliff is the fact at the end of this year all of the bush tax cuts are going to expire which means an automatic tax increase for virtually every american. we also face additional spending cuts, $1.2 trillion in the so-called sequester, about evenly shared between defense and nondefense. that would reduce demand, that would further reduce economic growth. and, of course, the housing market continues to pose a threat at least in many parts of the country, certainly in nevada and arizona and florida and parts of california. the housing market crisis still leaves an overhang. madam president, i thought this article in "the new york times" on saturday, may 5 was very interesting because i think if we gave a quiz 0 the american people listening to the debates here they would conclude the government has gotten bigger and bigger during the obama administration. but it's not true. you know, a previous presidents -- a previous president said facts are stubborn things and these are fa
the threat from the fiscal cliff. the fiscal cliff is the fact at the end of this year all of the bush tax cuts are going to expire which means an automatic tax increase for virtually every american. we also face additional spending cuts, $1.2 trillion in the so-called sequester, about evenly shared between defense and nondefense. that would reduce demand, that would further reduce economic growth. and, of course, the housing market continues to pose a threat at least in many parts of the...
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Dec 11, 2012
12/12
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we call is the fiscal cliff here. and i think all of us know what we really need to do to deal with the fiscal cliff is to have a true fiscal reform package that i hope would be in the range of $4 trillion, $4.5 trillion, so we can put this issue behind us and really begin this next year with it in the rear-view mirror and our economy taking off because we've shown the world that we've actually dealt with these issues and people in our country would have the confidence to invest -- to invest here in our country because they know we in washington have been responsible in that way. one of the big discussions that's taking place right now is revenues, and, really, i think at the end of the day, we're going to come to a conclusion very soon that it's probably time for us to go ahead and rescue the 98% of the country that's been caught up in all of this. and my sense is we're going to have some resolution to that in the -- in the very near future. what i have found is, and one of the reasons that we don't have a solution,
we call is the fiscal cliff here. and i think all of us know what we really need to do to deal with the fiscal cliff is to have a true fiscal reform package that i hope would be in the range of $4 trillion, $4.5 trillion, so we can put this issue behind us and really begin this next year with it in the rear-view mirror and our economy taking off because we've shown the world that we've actually dealt with these issues and people in our country would have the confidence to invest -- to invest...
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Dec 6, 2012
12/12
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as the days until the country goes over the fiscal cliff goes by, more and more republicans have joined our chorus. they recognize that the willing misto compromise sooner has put them in a real bind. so reasonable republicans are asking the house leadership to allow a vote on the senate-passed legislation. what was once a trickle has become more of a flood. last week republican representative tom cole said it was time to give middle-class families certainty their taxes won't go up by $2,200 on average on january 1. then tim scott from north carolina ad admitted that the senate-passed tax cut will surely pass the house since it will take only 26 republican ren votes for passage. i don't most of the time agree with david brooks but no one can dispute this columnist for "the new york times" is brilliant in writing. he's a great, great journalist and explains things so well. i really have great admiration for him. he wrote yesterday, "republicans have to realize they are going to have to cave in on tax rates." that's the way it is, mr. president. "they're going to have to cave on tax rates
as the days until the country goes over the fiscal cliff goes by, more and more republicans have joined our chorus. they recognize that the willing misto compromise sooner has put them in a real bind. so reasonable republicans are asking the house leadership to allow a vote on the senate-passed legislation. what was once a trickle has become more of a flood. last week republican representative tom cole said it was time to give middle-class families certainty their taxes won't go up by $2,200 on...
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Dec 5, 2012
12/12
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tomorrow our joint economic committee will be engaged in a hearing on fiscal cliff issues. we'll discuss strategies to create jobs, we'll discuss the implications of the fiscal cliff, and what happens if we don't get some work done by the house to pass the middle-income tax cut. we have to continue to focus on middle-income families, their lives, their struggles and what we can do to ensure they have more dollars in their pocket to continue economic growth. with that, mr. president, i will yield the floor. and note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. schumer: mr. president? the presiding officer: the senator from new york. mr. schumer: i ask unanimous consent the quorum call be repealed. the presiding officer: without objection. mr. schumer: thank you, mr. president. first i want to thank my great colleague from pennsylvania, i enjoyed sharing a table last night with him and his beautiful, charming, intelligent wife, who he's lucky he would be the first to admit he's lucky to have married, and their four great girls
tomorrow our joint economic committee will be engaged in a hearing on fiscal cliff issues. we'll discuss strategies to create jobs, we'll discuss the implications of the fiscal cliff, and what happens if we don't get some work done by the house to pass the middle-income tax cut. we have to continue to focus on middle-income families, their lives, their struggles and what we can do to ensure they have more dollars in their pocket to continue economic growth. with that, mr. president, i will...
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Jul 18, 2012
07/12
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the fiscal cliff." the fiscal cliff. this is a convergence of big issues, ranging from the debt ceiling to how we pay doctors, to the spiraling out of control entitlements we have, to a need for simple -- simplified tax code, to a need for lower rates. we've been working on this in various ways across party lines for several months. there's a growing consensus that the time to act is after the election. it will require presidential leadership, whether it is a newly inaugurated president obama or a new president romney. and our job, mr. president, will see that the newly inaugurated president succeeds, whether he is a republican president or a democratic president, because if he does, then our country succeeds. and what are the stakes? the foreign minister of australia put it very well, bob carr, when he said in a speech here -- and he's a great friend of the united states, i've known him for 25 years. he said the united states is one budget agreement away from reasserting its global preeminence, one bu
the fiscal cliff." the fiscal cliff. this is a convergence of big issues, ranging from the debt ceiling to how we pay doctors, to the spiraling out of control entitlements we have, to a need for simple -- simplified tax code, to a need for lower rates. we've been working on this in various ways across party lines for several months. there's a growing consensus that the time to act is after the election. it will require presidential leadership, whether it is a newly inaugurated president...
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Dec 7, 2012
12/12
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what happens on generators the devotee saying it is the fiscal cliff. it was said to me last night it's not like a zombie apocalypse happens. i think in the historical sense that's right but if market confidence goes out the window either then or when the debt ceiling comes back up again, that could be very damaging for our economy. >> i think as and denney said, there is going to be some deal that's going to set a deadline for another deal next year. but it's really important like think that they not set up a whole series of opportunities to have that kind of collapse. if a couple nights of the apple but they need to make sure whatever they come up with less a significant period of time the question of housing to overstate especially from the smaller business startup perspective but those are companies that there will be a lot of job creation and it will grow very rapidly sometimes into large companies in a matter of a handful of years and they are not starting at the high rate at all right now. a big chunk of that is confidence. folks that starts the
what happens on generators the devotee saying it is the fiscal cliff. it was said to me last night it's not like a zombie apocalypse happens. i think in the historical sense that's right but if market confidence goes out the window either then or when the debt ceiling comes back up again, that could be very damaging for our economy. >> i think as and denney said, there is going to be some deal that's going to set a deadline for another deal next year. but it's really important like think...
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Oct 17, 2012
10/12
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what do we need do to avoid from going over the fiscal cliff. we'll start with -- baumgartner: thank you. i was getting ready for the debate laid gordon told me i want do you twenty times say that when maria took office we have a surplice and now we have a $16 trillion dead. i'm not going to say it twenty times. he makes a great point. our country has gone the wrong deduction in the last 2012 years. -- than pending fiscal cliff. that was an opportunity balance the budget we passed budgets two years in a row as member of the minority that fiscal responsible bipartisan budget. senator cant bringing up real ideas like a vote on the bolls simpson agreement she wants to blame the tea party instead of talking about a solution. it's a great danger. the first thing we have should do is end the war in iraq and afghanistan. we're spending $10 billion for a economy that is $15 billion. instead of the fiscal cliff, i think we should take a look at bowels simpson. it has things i don't like and like. it is far better in a statement of a productive american t
what do we need do to avoid from going over the fiscal cliff. we'll start with -- baumgartner: thank you. i was getting ready for the debate laid gordon told me i want do you twenty times say that when maria took office we have a surplice and now we have a $16 trillion dead. i'm not going to say it twenty times. he makes a great point. our country has gone the wrong deduction in the last 2012 years. -- than pending fiscal cliff. that was an opportunity balance the budget we passed budgets two...
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Dec 12, 2012
12/12
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and actually, that alone would move us beyond this fiscal cliff at year end. again, i know there is a lot of discussions taking place in both chambers about the best way for that to happen. what i'm leading to, madam president, is it looks like based on where the negotiations are right now that this issue is going to move into next year and that we're still not going to be at the dollar amount that i know that you have talked about and i've talked about, and that we're still going to have this issue to deal with. as a matter of fact, what it looks like may well happen is that all we do this year is hopefully move beyond the fiscal cliff. i know over in the house there are discussions about when do you do this, do you do it on january 3 or do you do that in this calendar year. i would argue the very best way to deal with this would be to deal with it prior to year end and go ahead and take our responsibility seriously, make sure that we rescue the 98% of the people in our country before year end so they go into the new year knowing that that has been dealt with
and actually, that alone would move us beyond this fiscal cliff at year end. again, i know there is a lot of discussions taking place in both chambers about the best way for that to happen. what i'm leading to, madam president, is it looks like based on where the negotiations are right now that this issue is going to move into next year and that we're still not going to be at the dollar amount that i know that you have talked about and i've talked about, and that we're still going to have this...
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Jan 31, 2013
01/13
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cliff again or before we have to be faced with a fiscal cliff. mr. president, i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: mr. president? the presiding officer: the senator from ohio. mr. portman: mr. president, i ask unanimous consent that the quorum call be dispensed with. the presiding officer: without objection, so ordered. mr. portman: mr. president, i have two amendments at the desk. i would ask for their immediate consideration en bloc. the presiding officer: the clerk will report the amendments. the clerk: the senator from ohio, mr. portman, proposes en bloc amendments numbered 6 and 7. mr. portman: mr. president, i ask unanimous consent that the reading of the amendments be dispensed with. the presiding officer: without objection, so ordered. mr. portman: thank you, mr. president. i rise today to offer first a commonsense amendment to begin to address our nation's unprecedented national debt that's hurting jobs and our economy today and is placing a moral burden on our ki
cliff again or before we have to be faced with a fiscal cliff. mr. president, i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: mr. president? the presiding officer: the senator from ohio. mr. portman: mr. president, i ask unanimous consent that the quorum call be dispensed with. the presiding officer: without objection, so ordered. mr. portman: mr. president, i have two amendments at the desk. i would ask for their immediate...
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Dec 20, 2012
12/12
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so what does this fiscal cliff mean? it means that the gap between our revenues and our spending is clearly unsustainable. we need to find a solution before our unsustainable debt swallows our economy. some folks argue that we don't need a solution now, that we have time and space and we should stimulate the economy with more deficit spending. i think an appropriate measure of additional stimulus activities makes some sense. so i do support investing in our economy, in new infrastructure, research and development and workforce investments. as a former business guy, those are characteristics that any strong business would invest in and any strong country would invest in if we're going to grow. but that alone is not enough. and our problems which only continue to accrue and grow over the long term must be dealt with. and just like any large enterprise, the united states government turning it takes time. and the sooner we start that turn, the better. so, as this crisis, as we get into the final days before christmas, we nee
so what does this fiscal cliff mean? it means that the gap between our revenues and our spending is clearly unsustainable. we need to find a solution before our unsustainable debt swallows our economy. some folks argue that we don't need a solution now, that we have time and space and we should stimulate the economy with more deficit spending. i think an appropriate measure of additional stimulus activities makes some sense. so i do support investing in our economy, in new infrastructure,...
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Mar 18, 2013
03/13
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they're the opposite of the fiscal cliff. the fiscal cliff was if nothing happens, taxes go up, and the republicans can't stop it. there's no vote they can take to stop it. sequestration is unless the house, senate and the president vote on an alternative, there's a $1.2 trillion spending reduction from obama's wish list over the next decade. so it's automatic. so if the republicans say we don't want to stop it, it doesn't stop. the democrats keep saying why don't you raise taxes instead. the answer's, no. what obama thought was going to happen because he saw a handful of republicans on chat shows saying, oh, we'll get the vapors and faint if any defense spending increases are not carried out. what he missed was they were recycling the same four or five republican politicians, and in point of fact that's not where the, certainly not where the country is, it's not where the modern republican party is, it's not where the republicans in the house and the senate are. there's some guys on spending committees who'd like to spend mo
they're the opposite of the fiscal cliff. the fiscal cliff was if nothing happens, taxes go up, and the republicans can't stop it. there's no vote they can take to stop it. sequestration is unless the house, senate and the president vote on an alternative, there's a $1.2 trillion spending reduction from obama's wish list over the next decade. so it's automatic. so if the republicans say we don't want to stop it, it doesn't stop. the democrats keep saying why don't you raise taxes instead. the...
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Nov 27, 2012
11/12
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a lot of talk about the fiscal cliff in washington. we want to turn to all of you outside of washington and get your take on this idea of going off the fiscal cliff. we'll start with glenn in new york. democratic color. go ahead. >> guest: you know, i'd to remark on how relatively quickly it sounds like the white house is willing to sell out. you know, if we go off the fiscal cliff to january 2, and pronounce, you know, our willingness to help the republicans negate the pledge not to raise taxes by simply letting it expire, and then any tax changed to reduce taxes will be a tax cut. they will be glad to sign. all other superrich backers who are now going to face 55% estate tax on anything over $1 billion will be coming in, screaming over their shoulders, signed a got dam thing. and you know, we're not going to have $200 billion spending if after january 1 we signed a new tax bill the second or third. so the fact that obama's administration is willing to make it sound like he's averting a catastrophe over the full 2013 is an insult to p
a lot of talk about the fiscal cliff in washington. we want to turn to all of you outside of washington and get your take on this idea of going off the fiscal cliff. we'll start with glenn in new york. democratic color. go ahead. >> guest: you know, i'd to remark on how relatively quickly it sounds like the white house is willing to sell out. you know, if we go off the fiscal cliff to january 2, and pronounce, you know, our willingness to help the republicans negate the pledge not to...